A recent report published by Ebay entitled Online Business Index reveals that around 79% of smaller bricks and mortar stores believe that their online presence has literally saved their businesses. With an online presence, these retailers are able to compete and even outperform their competitors who already have a presence online. Their stores online are able to match profit margins, prices and sales of their competitors.
Taking the step of branching out online allows physical stores to be able to compete on the same level as online retailers. As the online economy continues to grow, it has become an increasingly important tool to accompany the traditional bricks and mortar business.
Enterprising high street retailers continue to develop their online business and are rapidly joining the ranks of online businesses. In this way they can improve their offline income. More than half of every online business has a bricks and mortar store, and about 80% of those are experiencing improved sales and a more sustainable offline business because of that online presence.
If you have ever wondered if you need to have an online presence, this online opportunity is suitable for any business, whether it is service based or retail. An online presence can help you to reach new customers. A traditional bricks and mortar store with no web presence can only reach customers in its geographical area. If you have an online presence, there are no boundaries and you can reach customers worldwide. You can also keep in touch with your existing customers with an online presence.
Your existing customers are online. This means that they are susceptible to your competitors in that space, including online-only competition as well as bricks & mortar operators.
Building your brand is one way to ensure that you are at the forefront of your particular field. You have many options to engage your customers, including with your website, social networks like Facebook and with email. Times are changing and now is a really great time to explore setting up your online presence.
The digital channels can quickly and easily help you to engage with existing customers while attracting new customers and it’s being proven again and again every day.
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